“We are looking at a prolonged trade dispute between the U.S. and China, with potential retaliation coming in from other countries,” said Elena Duggar, Chair of the Macroeconomic Board at Moody’s Investors Service. Elena joined Bold Business to explain the potential economic impact of the various trade disputes involving the United States, particularly the recent escalation of tariffs between the U.S. and China. Elena said that “tit for tat” tariffs could “shave off some of the benefits from the tax reform earlier this year” and disrupt the momentum of a “healthy” U.S. economy. The biggest concern, according to Elena, is the potential for a “global escalation of trade restrictions on all sides.” This could cause a “very significant hit to global growth…the risk is there,” she said.